NRG Energy (NRG) Bonds Trading 0.8% Higher

An issue of NRG Energy Inc (NYSE:NRG) debt rose 0.8% as a percentage of its face value during trading on Wednesday. The high-yield debt issue has a 5.75% coupon and is set to mature on January 15, 2028. The debt is now trading at $101.25 and was trading at $100.75 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.

A number of equities research analysts have recently weighed in on the stock. SunTrust Banks reaffirmed a “hold” rating and set a $25.00 target price on shares of NRG Energy in a research note on Friday, October 20th. Zacks Investment Research raised shares of NRG Energy from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. Bank of America assumed coverage on shares of NRG Energy in a research note on Tuesday, October 24th. They set a “buy” rating and a $31.00 target price on the stock. Finally, ValuEngine lowered shares of NRG Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 27th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $24.67.

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Shares of NRG Energy Inc (NYSE NRG) traded down $0.73 on Wednesday, hitting $27.70. 4,329,020 shares of the stock were exchanged, compared to its average volume of 6,080,535. The company has a market cap of $9,000.00, a price-to-earnings ratio of -10.99 and a beta of 1.28. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.28 and a quick ratio of 1.11. NRG Energy Inc has a 52-week low of $12.19 and a 52-week high of $29.78.

NRG Energy (NYSE:NRG) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.51). NRG Energy had a negative net margin of 13.48% and a positive return on equity of 8.82%. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the previous year, the firm posted $1.27 EPS. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. sell-side analysts expect that NRG Energy Inc will post 0.56 earnings per share for the current fiscal year.

In other NRG Energy news, Director Barry T. Smitherman purchased 2,541 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was bought at an average cost of $28.38 per share, with a total value of $72,113.58. Following the transaction, the director now directly owns 49,000 shares in the company, valued at approximately $1,390,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Elliott Management Corp lifted its position in NRG Energy by 8.4% during the 2nd quarter. Elliott Management Corp now owns 19,600,000 shares of the utilities provider’s stock valued at $337,512,000 after acquiring an additional 1,526,394 shares during the period. FMR LLC raised its holdings in NRG Energy by 8.6% in the second quarter. FMR LLC now owns 7,584,875 shares of the utilities provider’s stock worth $130,612,000 after buying an additional 597,957 shares during the last quarter. Janus Henderson Group PLC raised its holdings in NRG Energy by 20.9% in the third quarter. Janus Henderson Group PLC now owns 6,671,449 shares of the utilities provider’s stock worth $170,723,000 after buying an additional 1,154,171 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in NRG Energy by 38.6% in the second quarter. Dimensional Fund Advisors LP now owns 6,369,761 shares of the utilities provider’s stock worth $109,682,000 after buying an additional 1,772,966 shares during the last quarter. Finally, Permian Investment Partners LP raised its holdings in NRG Energy by 51.0% in the second quarter. Permian Investment Partners LP now owns 5,938,024 shares of the utilities provider’s stock worth $102,253,000 after buying an additional 2,005,094 shares during the last quarter. 97.25% of the stock is owned by institutional investors.

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NRG Energy Company Profile

NRG Energy, Inc (NRG) is an integrated power company. The Company is engaged in producing, selling and delivering electricity and related products and services in various markets in the United States. The Company’s segments include Generation, Retail, Renewables, NRG Yield, Inc (NRG Yield) and Corporate activities.